The difference between book value of the asset with the proceeds received from its sale, will result in:

Q: Demonstrates the difference between depreciation costs as expenses and the cash flow generated by…

A: Depreciation expense: Depreciation expense is a non-cash expense, which is recorded on the income…

Q: What is the formula for the NET FIXED ASSET if it is not given in the financial statement?

A: The net value of a company's fixed assets is measured using net fixed assets. In a nutshell, net…

Q: The book value of an asset is equal to the

A: This question tells about the book value of an asset is equal.

Q: What entry is made when selling a fixed asset?

A: Following entry is passed when selling the fixed assets:

Q: Assets are usually valued under which basis? A. replacement cost B. historical cost C. net…

A: In terms of accountancy, an asset can be defined as a business resource which can be utilized to…

Q: The adjusted basis of an asset is the original cost (or basis) plus capital recoveries less capital…

A: Adjusted basis: The amount of original cost, plus additional investments (capital expenditure) and…

Q: Cost of property asset minus accumulated depreciation is equal to net book value.   T/F

A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…

Q: How are the total depreciation and final book value are calculated?

A: Depreciation: Depreciation refers to the reduction in the monetary value of a fixed asset due to its…

Q: The book value of an asset is equal to the: a. asset's market value less its historical cost b.…

A: Book value is the net value of the assets that appears in balance sheet. it is calculated by…

Q: ‘carrying value’ of a depreciable asset is the difference between

A: Carrying value of an asset gives value of Company's asset as on given date after provision of wear…

Q: The book value of an asset is computed as the asset's _____.

A: The assets can be defined as fixed assets and current assets.

Q: Intangible assets are initially recorded at a. expected future value. b. fair value. c. cost. d.…

A: Intangible assets are those which does not have physical substance. It includes copyright, goodwill,…

Q: When a group of assets is acquired for a lump sum price, the total cost should be allocated to the…

A: As per IAS 16 Property plant and equipment, When a group of assets are acquired for a lumpsum…

Q: Describe how the value of any asset is determined.

A: An asset can be any tangible or intangible asset that can be owned by a business or individual to…

Q: The sale of a depreciable asset resulting in a gain indicates that the proceeds from the sale were…

A: Depreciable assets are those fixed assets on which depreciation is charged over the years and net…

Q: What is the correct total asset turnover ratio

A: Introduction:- Ratio analysis is used to identify financial performance of the company. Financial…

Q: EBITDA can be calculated using following formula depreciation = EBITDA + ЕBIT ammortisation EAT…

A: EBITDA means earning before interest , tax , depreciation and amortization.

Q: The book value of an asset is equal to thea. Replacement cost.b. Asset’s cost less accumulated…

A: Every asset has a limited period of life. With the continuous use of an asset in the course of…

Q: ,calculate the amount of amortization of the net loss or gain that should be included

A: Defined Benefit Pension plan can be defined as the payment plan granted by the employer to the…

Q: Which of the following best describes the higher of an asset's net selling price and its value in…

A: Asset's net selling price is the amount obtainable from the sale of assets less any disposal cost.…

Q: . What is the definition of a fixed asset and which expenditures can be added to the capitalized…

A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If…

Q: As compared to capitalizing a cash expenditure, what is the initial effect on asset turnover of…

A: Asset Turnover = Sales / Average Total Assets Average Total Assets = (Beginning Total Assets +…

Q: What is the difference between a current asset and a fixed asset?

A: Financial Accounting:   It refers to the process of recording the financial transactions of the…

Q: the equation for book value is: book value = cost of an asset minus its accumulated depreciation.…

A: Asset: Asset is a resource owned by a company from which future economic benefits are expected to…

Q: As compared to capitalizing a cash expenditure, what is the initial effect on asset turnover of…

A: Asset Turnover Ratio: The total asset turnover ratio evaluates the efficiency of the organization…

Q: Cost of property asset minus the residual value is equal to net book value.

A: Cost of Property -  It Includes the purchase Price of the Property. stamp duty, and other cost…

Q: The historical cost principle requires that when assets are acquired, they be recorded at Select…

A: Historical cost principle  Historical cost refers to the cost at the time of acquisition. Since…

Q: The book value of an asset is defined as ______

A: The Answer

Q: right of use asset

A: Correct Answer :- C Sale price

Q: It is the initial cost of acquiring an asset, plus sales tax, transportation and normal costs of…

A: Cost of the asset is the cost which has been paid by the company in order to buy the asset and on…

Q: Why is the cost of a lump-sum purchase allocated to the individual assets acquired?

A: It is necessary to allocate a lump sum purchase to individual assets in order to record a fair…

Q: What is the total loss on realization of noncash assets?

A: Noncash assets are assets that would not be easily converted into cash by the company.

Q: Required In each of these cases, determine the amount of cost to be capitalized in the asset…

A: Cost allocation refers to the process which is used by the company to allocate the cost of product…

Q: On the balance sheet date, the book value (or carrying value) of an asset should always equal the…

A: answer are as follows

Q: Under normal circumstances, will the carrying value of a long-term asset be equal to its market…

A: Assets are recorded at historical figures.

Q: As a result of the transaction, what is the effect on the profit or loss? what is the cost of the…

A: On the occasion of disposal/exchange/sale of an asset, the net income of the entity is impacted by…

Q: Define the term the depreciable life of the asset?

A: Depreciation  is an accounting process through which allocation of an asset’s cost during its useful…

Q: Under IFRS, the recoverable amount of an asset is

A: Introduction:- Impairment loss arise when the amount by which the carrying amount of an asset…

Q: What do you mean when you say the depreciable life of an asset is defined?

A: The question explains about the depreciable life of an asset is defined

Q: The historical cost principle requires that when assets are acquired, they be recorded at appraisal…

A: The historical principle helps to determine the value of assets to be recorded in the books of…